Alaska Administrative Code

(a) If an assumption of a loan request is denied, inactivated, or significantly modified by the department, an applicant may file a written request for reconsideration within 30 days after receipt of notice of the department's decision. (b) The department will, in its discretion,…

(a) The following information is not confidential and is available for public inspection upon request:(1) a document that is already a public record including deeds of trust, financing statements, warranty deeds, bills of sale, mortgages, liens, and vehicle titles; (2) general in…

Unless the context requires otherwise, in this chapter (1) repealed 8/10/97; (2) "default" includes a violation of any provision of AS 45.98, this chapter or the loan documents, failure to make the necessary payment within 15 days after it is due, or failure to maintain the insur…

Notes 3 AAC 84.010 Eff. 9/11/85, Register 95; am 1/11/87, Register 101; repealed 8/10/97, Register 143 State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More co…

Notes 3 AAC 84.015 Eff. 9/11/85, Register 95; repealed 8/10/97, Register 143 State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be …

Notes 3 AAC 84.020 Eff. 9/11/85, Register 95; repealed 8/10/97, Register 143 State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be …

Notes 3 AAC 84.035 Eff. 9/11/85, Register 95; repealed 8/10/97, Register 143 State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be …

Notes 3 AAC 84.040 Eff. 9/11/85, Register 95; repealed 8/10/97, Register 143 State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be …

Notes 3 AAC 84.045 Eff. 9/11/85, Register 95; repealed 8/10/97, Register 143 State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be …

Notes 3 AAC 84.050 Eff. 9/11/85, Register 95; repealed 8/10/97, Register 143 State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be …

Notes 3 AAC 84.065 Eff. 9/11/85, Register 95; repealed 8/10/97, Register 143 State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be …

Notes 3 AAC 84.070 Eff. 9/11/85, Register 95; repealed 8/10/97, Register 143 State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be …

Notes 3 AAC 84.075 Eff. 9/11/85, Register 95; am 1/11/87, Register 101; am 7/4/91, Register 119; repealed 8/10/97, Register 143 State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior q…

Notes 3 AAC 84.080 Eff. 9/11/85, Register 95; repealed 8/10/97, Register 143 State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be …

Notes 3 AAC 84.082 Eff. 9/11/85, Register 95; repealed 8/10/97, Register 143 State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be …

Notes 3 AAC 84.085 Eff. 9/11/85, Register 95; repealed 8/10/97, Register 143 State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be …

Notes 3 AAC 84.090 Eff. 9/11/85, Register 95; repealed 8/10/97, Register 143 State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be …

Notes 3 AAC 84.900 Eff. 9/11/85, Register 95; repealed 8/10/97, Register 143 State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be …

(a) To apply for an assumption of an existing small business loan, an applicant shall file with the department (1) a completed application for a small business loan assumption, on a form provided by the department; (2) repealed 8/10/97; (3) an individual financial statement from …

(a) The materials described in 3 AAC 86.010 will be processed and evaluated by a loan officer. The loan officer will evaluate the applicant's financial and credit history, ability to repay, and proposed collateral. (b) On the basis of the evaluation, the loan officer will either …

(a) A loan committee consists of one or more persons appointed by the director to act on a request for assumption. (b) A loan committee may approve, deny, or modify and approve a request for assumption, or may table a request subject to obtaining additional information. (c) A loa…

Notes 3 AAC 86.035 Eff. 9/11/85, Register 95; repealed 8/10/97, Register 143 State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be …

(a) The department will, in its discretion, consider the following factors in evaluating an applicant's financial and credit record: (1) existing and prior debts; (2) credit reports obtained from creditors and private credit reporting services; (3) prior loan history with the dep…

The department will, in its discretion, consider the following factors in evaluating an applicant's ability to repay a proposed assumption: (1) income history, including present income; (2) prospects for future income; (3) assets and their liquidity; and (4) liabilities. Notes 3 …

Notes 3 AAC 86.050 Eff. 9/11/85, Register 95; repealed 8/10/97, Register 143 State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be …

An assumption agreement will be considered by the department to be closed when (1) all required signatures have been obtained and the assumption agreement has been properly recorded; (2) the borrower has complied with the insurance requirements contained in an instrument signed b…

If a loan is in default, the department will, in its discretion, require the borrower to furnish annual financial statements consisting of a balance sheet, profit-and-loss statement, sources and application of all money received, and a schedule of change of owner's equity. The de…

(a) All expenses incurred by the department in processing an application must be paid by the applicant. These expenses include the cost of title reports and insurance, recording fees, appraisals, surveys, travel, and other direct costs. (b) An assumption fee of one percent of the…

(a) The department will, in its discretion, allow an assumption of a loan made under AS 45.81 and this chapter, if the department determines the assumption is in the best interest of the state. (b) A request for an assumption of a loan made under AS 45.81 and this chapter will be…

(a) A request for a modification to a loan made under AS 45.81 or assumed under this chapter will be processed in the same manner as a loan application. The department will, in its discretion, require one or more of the items specified in 3 AAC 86.010. (b) A loan committee may pe…

(a) If an assumption request is denied, inactivated, or significantly modified by the department, an applicant may file a written request for reconsideration within 30 days after receipt of notice of the department's decision. (b) The department will, in its discretion, reconside…

(a) The following information is not confidential and is available for public inspection upon request:(1) a document that is already a public record including deeds of trust, financing statements, warranty deeds, bills of sale, mortgages, liens, and vehicle titles; (2) general in…

(a) Unless the context requires otherwise, in this chapter (1) repealed 8/10/97; (2) "default" includes a violation of any provision of AS 45.81, this chapter, or the loan documents, failure to make the necessary payment within 15 days after it is due, or failure to maintain the …

(a) To apply for an assumption of a mining loan, an applicant shall file with the department (1) a completed application for a mining loan assumption, on a form provided by the department; (2) an individual financial statement from the applicant and from each person owning 10 per…

(a) The materials described in 3 AAC 87.010 will be processed and evaluated by a loan officer. The loan officer will evaluate the applicant's financial and credit history, operating plan, ability to repay, and proposed collateral. (b) On the basis of the evaluation, the loan offi…

(a) A loan committee consists of one or more persons appointed by the director to act on a request for an assumption. (b) A loan committee may approve, deny, or modify and approve a request for an assumption, or may table a loan request subject to obtaining additional information…

Notes 3 AAC 87.030 Eff. 9/11/85, Register 95; repealed 8/10/97, Register 143 State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be …

Notes 3 AAC 87.035 Eff. 9/11/85, Register 95; repealed 8/10/97, Register 143 State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be …

(a) The department will, in its discretion, consider the following factors in evaluating an applicant's financial and credit record: (1) existing and prior debts; (2) credit reports obtained from creditors and private credit reporting services; (3) prior loan history with the dep…

The department will, in its discretion, consider the following factors in evaluating an applicant's ability to repay a proposed assumption: (1) income history, including present income; (2) prospects for future income; (3) assets and their liquidity; (4) liabilities; (5) reasonab…

Notes 3 AAC 87.050 Eff. 9/11/85, Register 95; repealed 8/10/97, Register 143 State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be …

Notes 3 AAC 87.055 Eff. 9/11/85, Register 95; repealed 8/10/97, Register 143 State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be …

Notes 3 AAC 87.065 Eff. 9/11/85, Register 95; repealed 8/10/97, Register 143 State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be …

If the loan is in default, the department will, in its discretion, require a borrower to furnish annual financial statements consisting of a balance sheet, profit and loss statement, source and application of all money received and a schedule of change of owner's equity. The depa…

(a) All expenses incurred by the department in processing an application must be paid by the applicant. These expenses include the cost of title reports and insurance, recording fees, appraisals, surveys, travel, and other direct costs. (b) An assumption fee of one percent of the…

(a) A request to assume the obligations and benefits of a loan made under AS 27.09 and this chapter will be processed in the same manner as a loan request. (b) A loan committee may permit an assumption if the applicant is a good financial risk and the security of the state's inve…

An assumption agreement will be considered by the department to be closed when (1) all required signatures have been obtained and the assumption agreement has been properly recorded; (2) all requirements of the loan committee have been met; and (3) the borrower is in compliance w…